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Oct 29, 2012
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you learn how fragile a big city can be, a big strong city like this. it's just different, and that surge, as i said, was really something to behold. >> yeah. >> scott cohn, thank you very much. see you later. >>> coming up next, hurricane sandy hitting long island's massapequa hard tonight turning streets into rivers. more on how the storm is ravaging the northeast and how refineries are being affected as well. we'll be back in two minutes. >>> welcome back. sandy has closed several of the region's major refineries. here's a look at the process to reopen these fuel centers. cnbc's sharon epperson has more. >> reporter: getting a refinery back online after a full shutdown due to a hurricane or major storm can be a lengthy multi-phase operation. the first step, returning evacuated personnel to the refinery, could take a few days depending on conditions and surrounding areas. once on location, the crew evaluates the storm damage, like flooding or downed power lines. if the power is out, the refinery has to wait for local utilities to restore it. once powe
you learn how fragile a big city can be, a big strong city like this. it's just different, and that surge, as i said, was really something to behold. >> yeah. >> scott cohn, thank you very much. see you later. >>> coming up next, hurricane sandy hitting long island's massapequa hard tonight turning streets into rivers. more on how the storm is ravaging the northeast and how refineries are being affected as well. we'll be back in two minutes. >>> welcome back. sandy...
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Oct 29, 2012
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winds are picking up and the rain is coming towards the new york city area. thousands have been evacuated from low lying areas. u.s. stock and option markets will be closed today and possibly tomorrow. bond markets will remain open until noon. and stocks are weaker across europe with the u.s. calling off equity trading. more worries about a rescue deal for spain. it's monday, october 29th, 2012. "squawk box" begins right now.
winds are picking up and the rain is coming towards the new york city area. thousands have been evacuated from low lying areas. u.s. stock and option markets will be closed today and possibly tomorrow. bond markets will remain open until noon. and stocks are weaker across europe with the u.s. calling off equity trading. more worries about a rescue deal for spain. it's monday, october 29th, 2012. "squawk box" begins right now.
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Oct 9, 2012
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. >> how was the columbus day parade in new york city? >> it was spectacular. >> she's an institution in new york city at the fabled columbus day parade. she's the commentator on that every year. >> that's where i was yesterday. it was amazingly fun. >> always look forward to your description of the high school bands out there. i'm bill griffeth. today's selloff comes as investors gear up for what some say could be a tough earnings season. we'll know in about an hour when dow component alcoa reports its results after the bell. coming up, ceoklaus kleinfeld talks with maria about the global economy. we'll also be the first to have yum brand results coming up. another key indicator of where this economy and market may be headed. here's where we stand now. a selloff this morning with the dow down 79 points. just kind of bumping along the bottom of the day, now at 13,506. the nasdaq is down 37 points. all these charts will look similar today. 1.2% down on the nasdaq. the s&p is down nine points at 1446. >> it's not a very happy anniversary to
. >> how was the columbus day parade in new york city? >> it was spectacular. >> she's an institution in new york city at the fabled columbus day parade. she's the commentator on that every year. >> that's where i was yesterday. it was amazingly fun. >> always look forward to your description of the high school bands out there. i'm bill griffeth. today's selloff comes as investors gear up for what some say could be a tough earnings season. we'll know in about an...
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Oct 19, 2012
10/12
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look at things like new york city project. 15 miles of pipe. about 4,000 jobs. unionized, non-unionized jobs. we're looking at building an $8 billion pipeline in western canada. that will be another 4,000 or 5,000 jobs. so it means a lot. the average pipeline worker in america makes about $65,000 a year. average worker makes 44 thousand a year. when these jobs are here, they don't go overseas. you can't run a pipeline from overseas. >> i don't need a graduate degree to work, right? >> no. in fact, we want welders. pipefitters, steam-fitters. all those types of things are important in our business. no, you don't need to be an mba. all you need is to want a good job and work hard. >> you guys have been tremendously transparent. the fastest-growing area in our country is northeast, philadelphia and new york, boston. >> yeah. >> how come? >> what a dramatic change. first of all, we use about 80 million barrels a year of oil, foreign oil that comes in. it's very expensive relative to gas. so you're seeing a lot of changeover. they say in the northeast about 50,000 ho
look at things like new york city project. 15 miles of pipe. about 4,000 jobs. unionized, non-unionized jobs. we're looking at building an $8 billion pipeline in western canada. that will be another 4,000 or 5,000 jobs. so it means a lot. the average pipeline worker in america makes about $65,000 a year. average worker makes 44 thousand a year. when these jobs are here, they don't go overseas. you can't run a pipeline from overseas. >> i don't need a graduate degree to work, right?...
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Oct 15, 2012
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. >>> citi comfortably beating estimates on the top and bottom line. shares now up $1.60, at $36.35. the stock is up more than 35%, 38% so far this year. kayla tausche listening in on citi's confroeerence call. what did mr. pandit say? >> not all that much but expressing concern over the u.s. fiscal cliff. similarly the cfo responded to claims of a house recovery saying that the economy must lead housing, not housing leading the economy. while the macro environment for banks remains weak, investors are looking at each bank on a case by case basis and they're actually saying that citi's case is improving. excluding items, citi's earnings per share beat analyst estimates by 10 cents matching 11% deposit growth and slower loan growth but big gains in securities and banking. citi one of the only banks so far to show net interest margins improving instead of deteriorating amid that lower interest rate environment. cfo saying the nim should stay at these levels for q4 as well. if earnings stay this good, citi executives said on the call that the bank should
. >>> citi comfortably beating estimates on the top and bottom line. shares now up $1.60, at $36.35. the stock is up more than 35%, 38% so far this year. kayla tausche listening in on citi's confroeerence call. what did mr. pandit say? >> not all that much but expressing concern over the u.s. fiscal cliff. similarly the cfo responded to claims of a house recovery saying that the economy must lead housing, not housing leading the economy. while the macro environment for banks...
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Oct 18, 2012
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why is this happening because it's not happening in many other cities including my own, new york city. >> if you have conditions, larry, where people can't get jobs, there's poor education, poor ememployment and few opportunities and that's basically in a generational type of cycle. you're only going to have certain options there. and chicago is one of the leading capitols in the united states that has the types of gangs and organizations. these are not kids running around shooting people, these are organizations that are making millions of dollars and they are fighting for turf. >> what you're describing is this underground economy. i don't think it has a thing to do with the chicago economy. i think these people are inside this underground -- what is it that they want? is it guns they want? buy are they shooting each other? here in new york, rudy giuliani put it up on computers and found out the worse places and put the cops out there. >> you have apathy. you have these type of approaches that are supposed to solve the same old types of problems. number two, you have to have an incr
why is this happening because it's not happening in many other cities including my own, new york city. >> if you have conditions, larry, where people can't get jobs, there's poor education, poor ememployment and few opportunities and that's basically in a generational type of cycle. you're only going to have certain options there. and chicago is one of the leading capitols in the united states that has the types of gangs and organizations. these are not kids running around shooting...
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Oct 30, 2012
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the devastation of infrastructure in a city like new york city that has never seen this kind of devastation and the cost of that as well. not only of rebuilding but the lost cost of tourism and other things. opportunity costs not being able to get into the city because of amtrack and the airport being closed down. and all of those things what else would you have spent that $1 billion on? right now, you can think maybe we need to start thinking of the intrastructure of wall street in that area. an t what do you watch at this point? >> how quickly you get the power back on. i know you got the weather center on. >> well, you talk about idle people, that takes away from the nation's gdp. >> all right we are getting word that the death toll has climbed to 44. long island almost one million without power. many in the entertainment and political world have property there. >> long island one of the hardest hit areas. this building behind me used to be a bar and restaurant. it is completely destroyed and i talked to the owners and they lost their home. we took a tour of the area. it is unbelievable
the devastation of infrastructure in a city like new york city that has never seen this kind of devastation and the cost of that as well. not only of rebuilding but the lost cost of tourism and other things. opportunity costs not being able to get into the city because of amtrack and the airport being closed down. and all of those things what else would you have spent that $1 billion on? right now, you can think maybe we need to start thinking of the intrastructure of wall street in that area....
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Oct 31, 2012
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to new york city up and running again? >> well, michelle and larry, we're working on it and we have some optimism for friday, but as for tomorrow, the good news we have is service from new haven up to boston and more service from newark down to baltimore and philadelphia and washington. we're going to build on what we did today. stop with newark. we're going to add service from new haven up and working with our partners in the commuter agencies and others, we have some hope for some service in new york come friday. >> mark, principally the flooding, is that still the big deal? >> sure, it's all about the tunnels, larry. it's about getting the water pumped out of the tunnels, and it's a brackish water. there's salt water in it. we have the make sure that we get the water out. we have to make sure the systems are working. but we're pretty optoptimistic. there were people hunched over tables with pens and paper and charts trying to figure out how we can make this happen. once we have a plan for service to and from new york ci
to new york city up and running again? >> well, michelle and larry, we're working on it and we have some optimism for friday, but as for tomorrow, the good news we have is service from new haven up to boston and more service from newark down to baltimore and philadelphia and washington. we're going to build on what we did today. stop with newark. we're going to add service from new haven up and working with our partners in the commuter agencies and others, we have some hope for some...
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Oct 29, 2012
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he's in battery park city. if you don't know, it is about a five-minute walk from the new york stock exchange. the ocean spilled over the wall there earlier this morning as the tide came in. scott, it seems like the rain's pick up a little bit but how are things now? >> reporter: sue, tyler, take a look at new york harbor. it is getting progressively worse and we are now at low tide so there's a big difference from what we showed you earlier. but the skies are darkening. the rain is coming in. as you heard todd gross talk about, this is where storm surge will be coming in right as high tide happens this evening. and when we were here reporting earlier this morning, this was -- much of this area was under water. let's take a look at what it was like at high tide. again, that's just the morning tide with the full moon on top of it. not a lot of storm surge. at that point sandy was still several hundred miles from new york city. that's going to change when we get to the evening high tide. that is what everybody's
he's in battery park city. if you don't know, it is about a five-minute walk from the new york stock exchange. the ocean spilled over the wall there earlier this morning as the tide came in. scott, it seems like the rain's pick up a little bit but how are things now? >> reporter: sue, tyler, take a look at new york harbor. it is getting progressively worse and we are now at low tide so there's a big difference from what we showed you earlier. but the skies are darkening. the rain is...
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Oct 30, 2012
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kayla tausch is in atlantic city. what's the latest there. >> reporter: hey, scott, we forged our way north to atlantic city be a an hour ago making our way on garden state parkway only with a police escort. the water had a lot of debris on it, still very much flooded. one of the things we noticed is the quintessential billboards that greet you on the way in. most of those were stripped off. the first thing we wanted to see was the boardwalk. we saw all day yesterday the visuals of the boardwalk detaching and floating out into the city. went to the north end of the island. there was a lesser developed part of the boardwalk that disintegrated and detached, and the boardwalk that we all know that is attached to most of the major businesses here in atlantic city is still intact, and can you see we're standing on it right now. throughout our state, even in just the last hour, road lights came back on, so there is some power that is coming back, now, we made our way up to the boardwalk, tried to walk by a bunch of casinos.
kayla tausch is in atlantic city. what's the latest there. >> reporter: hey, scott, we forged our way north to atlantic city be a an hour ago making our way on garden state parkway only with a police escort. the water had a lot of debris on it, still very much flooded. one of the things we noticed is the quintessential billboards that greet you on the way in. most of those were stripped off. the first thing we wanted to see was the boardwalk. we saw all day yesterday the visuals of the...
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Oct 30, 2012
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new york city and especially lower manhattan saw it share monday. joining us on set a charles nenner founder and head of research. thanks very much for stopping by. >> you're welcome. from i just want to ask you off the bat about hurricane sandy if there is a broad impact on the u.s. that you expect. >> i want to mention two things. the crash in '87 started in europe. the crash in 9/11 started before terrorists attacked new york. so i forecast markets. so whatever happened here already is already in the price of all the markets, so it won't have much of an effect. >> the philosophy of market forecasting, nobody ever does the research how is it possible that european markets were tanking before the terrorist attack because we say listen, the market came down because of terrorist attack. i say it didn't happen because the markets knew it. so same thing with the hurricane over here. the market seems to knowen down issuesly what's going on and everything already in the price. >> then let's look at some of the specific names you've been watching. apple j
new york city and especially lower manhattan saw it share monday. joining us on set a charles nenner founder and head of research. thanks very much for stopping by. >> you're welcome. from i just want to ask you off the bat about hurricane sandy if there is a broad impact on the u.s. that you expect. >> i want to mention two things. the crash in '87 started in europe. the crash in 9/11 started before terrorists attacked new york. so i forecast markets. so whatever happened here...
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Oct 17, 2012
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a day after citi's ceo actually quits, bank of america reports. company beating the street despite a profit plunge, it has to be said. the shares up -- well flat for the session, overall they are up about 70% year to date. kayla tausche breaking down this set of financials for us. >> shares have been on a roller coaster ride today around that break-even line after the company reported a slim quarterly profit of $340 million. earnings of 0 cents a share beating expectations with the bank seeing slight improvements in investment banking and mortgage banking. cfo bruce thompson telling reporters this morning that housing clearly is turning a corner, though headwinds remain including foreclosures reinforcing, though with less gusto, a sentiment shift from industry executives. bank of america is seeing a boost in first lien mortgages as well as a $3 billion rise in value for its mbs portfolio, largely based on the federal reserve's third quarter buying spree. while the bank's $20.6 billion in revenue represented a 28% drop from a year earlier, the earn
a day after citi's ceo actually quits, bank of america reports. company beating the street despite a profit plunge, it has to be said. the shares up -- well flat for the session, overall they are up about 70% year to date. kayla tausche breaking down this set of financials for us. >> shares have been on a roller coaster ride today around that break-even line after the company reported a slim quarterly profit of $340 million. earnings of 0 cents a share beating expectations with the bank...
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Oct 26, 2012
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now the storm will come in somewhere between virginia and new york city some time monday or tuesday. now inland the issues don't change a whole lot wherever the storm comes in because it is going to be a giant wind storm and it's going to blow for a couple of days. a lot of power outages. where it comes onshore north of that center, the beaches are going to be ripped. we're talking about major beach erosion, coastal flooding and then structural damage. that's potentially what we're looking at. but again a good story on the generators and the other question is how this will impact the markets on monday, if not monday, tuesday. >> mike, i want to ask you a quick question about sort of what you do. right? because everybody -- listen, there is a cynicism about out. every storm seems to be overhyped, it, thankfully, comes in less than expected. what's the reality of this storm? how severe really is it? >> reporter: well, the thing is, we have to put our faith in the models. the european and the american model. a lot of calculations, a lot of data go into those models. and sometimes they'r
now the storm will come in somewhere between virginia and new york city some time monday or tuesday. now inland the issues don't change a whole lot wherever the storm comes in because it is going to be a giant wind storm and it's going to blow for a couple of days. a lot of power outages. where it comes onshore north of that center, the beaches are going to be ripped. we're talking about major beach erosion, coastal flooding and then structural damage. that's potentially what we're looking at....
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Oct 17, 2012
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i was out in salt lake city this year and they had a front page story in the "desert news" saying he was successful in getting a large infusion of cash from the federal government. so it's true that mr. romney was successful in the olympics but according to what they said was he got a couple million dollars from the federal government. he somehow failed to mention that. but the fundamental point was that the president criticized him for some thing. the ak-47 which is a great example. by the way, that was very striking. romney said i signed a bill to ban the ak-47s but now i can't because both sides got together then. >> what about job, congressman? isn't that what everybody cares about? do you feel like we heard a clear-cut answer to the jobs problem in this country from the president? >> not -- nor from mr. romney. mr. romney's four-point plan, the only jobs that creates that are people that got up to five points. creating jobs is harder than people want to think. i do think the president has a reasonable plan, first of all, one of the things that i wish he'd said, yes, we've create
i was out in salt lake city this year and they had a front page story in the "desert news" saying he was successful in getting a large infusion of cash from the federal government. so it's true that mr. romney was successful in the olympics but according to what they said was he got a couple million dollars from the federal government. he somehow failed to mention that. but the fundamental point was that the president criticized him for some thing. the ak-47 which is a great example....
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Oct 10, 2012
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i think that i have this theory that all american cities have their own m.o. i think people go to l.a. to be famous and boston to be smart and i think people go to new york to win. >>> coming up next a trade of the day that you could call a miracle drug. keep it there because we are going to lift that curtain and reveal what it is in mere minutes. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> it is time for the moment you have been waiting for, our trade of the day. so mr. guy, go ahead. >> there is nothing generric about "fast money." we are innovators here. if you are looking for a stock that is a segue. they raise the curtain. the symbol is wpi. in the generric world this is best in breed. it has been on a fantastic run. pe
i think that i have this theory that all american cities have their own m.o. i think people go to l.a. to be famous and boston to be smart and i think people go to new york to win. >>> coming up next a trade of the day that you could call a miracle drug. keep it there because we are going to lift that curtain and reveal what it is in mere minutes. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they...
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Oct 29, 2012
10/12
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new york city is very, very quiet even for 6:00 in the morning. they shut down the transit system last night. people have been heeding that. and a lot of evacuations again in the low lying areas, this so-called zone a where we are. but the worry is that the storm surge if it is as forecast, which will be worse than hurricane irene last year, could create some serious problems in terms of getting in to the subway system, in terms of getting into the con ed steam lines and potentially the electrical system. and so even if the wind doesn't blow out power, there could be pry empty differen preemptive power outages. so that's one of the many reasons that they decided to hunger down with all the financial markets. stay home, there's money to be made later and we'll just deal with it. for now just a little bit of a breeze blowing here. that is clearly supposed to chan change. >> where do you go later? >> you have to find a pole, right? you know that that's -- every guy out in a strong breeze, you've seen -- you've got to find a pole around there, right?
new york city is very, very quiet even for 6:00 in the morning. they shut down the transit system last night. people have been heeding that. and a lot of evacuations again in the low lying areas, this so-called zone a where we are. but the worry is that the storm surge if it is as forecast, which will be worse than hurricane irene last year, could create some serious problems in terms of getting in to the subway system, in terms of getting into the con ed steam lines and potentially the...
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Oct 16, 2012
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victor pandit out at city. what do you say to on investor that owns city. should they stay with it? >> the company is well positioned. looking at the problems that banks have around the world, this company has fixed it's balance sheet. and while we have a different guy running it. he did a great job while he was there. just a question. a lot of people were asking this question. would the it be worth more if it were broken up? >> sit a tough question. >> everything they are doing is being questioned. we are going to look at the outstanding record that the company has. both in terms of gee og fi and in terms of the business profile. even though because this bank has badly under performed it's peers in recent years. >> every great turn around opportunity. that is what you would say about them, if it has a bright future. that is when the huge opportunity in the stock exists. >> let's get back to your own view of the marketplace. >> tell us why. >> i think the u.s. economy has got increasing growth over the next several years. >> we have ample resources. the glass is half empty, you say
victor pandit out at city. what do you say to on investor that owns city. should they stay with it? >> the company is well positioned. looking at the problems that banks have around the world, this company has fixed it's balance sheet. and while we have a different guy running it. he did a great job while he was there. just a question. a lot of people were asking this question. would the it be worth more if it were broken up? >> sit a tough question. >> everything they are...
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Oct 29, 2012
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construction companies throughout new york city, including this project, have been working with the city buildings department since friday in securing to the best degree that anyone could in preparation for this storm. review plans are -- plans are reviewed by licensed engineers. the information that i have is that much of the scaffolding is secure. there are other sites in new york city that have such tower cranes and they are secure. what we're fashioning is an unprecedented storm, in the history of the city of new york. but construction companies across the city have been working in due diligence with all emergency personnel to secure all tower cranes in new york city. >> i guess given the fact that, you know, this is a 90-story building going up and we're only at 65 stories, so you're in the middle of construction, would it have been too expensive to take the crane down knowing that the winds would pick up with such se a severity? you're saying they left it there. didn't anticipate how strong the winds would be -- >> no, public and worker safety are the highest degree. every security
construction companies throughout new york city, including this project, have been working with the city buildings department since friday in securing to the best degree that anyone could in preparation for this storm. review plans are -- plans are reviewed by licensed engineers. the information that i have is that much of the scaffolding is secure. there are other sites in new york city that have such tower cranes and they are secure. what we're fashioning is an unprecedented storm, in the...
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Oct 17, 2012
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by the way, i'll be addressing the regime change at citi later in the show. you know the one where they said everybody was expecting this one. except i can tell you that nobody was. see, when we see the employment this week, we can't understand the department sales stores, that doesn't compute. a know a lot of people strangely don't like it. what else is partnered at retail sa sales in how about automobiles, like what is that? 14.8, no, doing ten million, nine million the year before that, that is extraordinary, they're boom-time level figures, and it doesn't fit with the boom, because latin america, europe, and gm, but in this country? wow, they say go with the boom, the numbers say go with the boom, call me a numbers guy. we hear all about how the trading partners are struggling, you know asia is not as strong as it was. what matters is the trajectory, we know that the housing has gotten better, the oil bonanza has caused a huge amount of oil infrastructure demand. again, we have got to find it out with boots on the ground in ohio later this week, the bigge
by the way, i'll be addressing the regime change at citi later in the show. you know the one where they said everybody was expecting this one. except i can tell you that nobody was. see, when we see the employment this week, we can't understand the department sales stores, that doesn't compute. a know a lot of people strangely don't like it. what else is partnered at retail sa sales in how about automobiles, like what is that? 14.8, no, doing ten million, nine million the year before that, that...
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Oct 31, 2012
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, from the main city of atlantic city. he will certainly look at the loss there of the boardwalk and the flooding that persisted in that town. and then move up and down the coastline where some of the devastation, as governor christie said yesterday, is just indescribable. so the president and governor christie will do that. then we are told the plane from marine one and take a tour either by foot or car of some of the neighborhoods and towns that have been affected by this super storm. we'll be watching those images and bring them to you throughout this hour. >>> if you'd like to see why we're having problems getting air traffic moving again -- except there -- but he comes first -- look at this video. it just fed in a short while ago -- oh, my goodness! look at that! that is laguardia airport today! two days after the storm went through. runways covered with water. if you've ever flown in to or out of laguardia airport, as many of you certainly have, you know that you come right over those bays and that open water there a
, from the main city of atlantic city. he will certainly look at the loss there of the boardwalk and the flooding that persisted in that town. and then move up and down the coastline where some of the devastation, as governor christie said yesterday, is just indescribable. so the president and governor christie will do that. then we are told the plane from marine one and take a tour either by foot or car of some of the neighborhoods and towns that have been affected by this super storm. we'll...
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Oct 31, 2012
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no decision on the new york city marathon yet. >> see you the same time tomorrow. "closing bell" is next. >>> hi, everybody, welcome to "the closing bell." i'm maria bartiromo at the new york stock exchange. what a couple of days it's been after being shut down by hurricane sandy, wall street winding down the historic afternoon for the stock market, back in business the market down slightly. the fact that we are open today after this recent disaster is viewed as a very important step for this recovery. >> it's an amazing achievement just to get that opening bell this morning. i'm bill griffith. you can see the dow is down modestly and for the most part it has been for the most part smooth sailing in terms of trading at the big board. we'll talk to a host of top market watchers, get their take how the exchanges are doing on the heels of hurricane sandy. >> of course it's all about the recovery. i'll talk with nasdaq's ceo bob griefeld on how his day is going. stay tuned for that as well as any lot of other interviews coming up. we go to the front lines to get a full
no decision on the new york city marathon yet. >> see you the same time tomorrow. "closing bell" is next. >>> hi, everybody, welcome to "the closing bell." i'm maria bartiromo at the new york stock exchange. what a couple of days it's been after being shut down by hurricane sandy, wall street winding down the historic afternoon for the stock market, back in business the market down slightly. the fact that we are open today after this recent disaster is viewed...
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Oct 31, 2012
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tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning thing in this city. it's hard to make new york work without the subways. >> it's not even if people are in their offices. phone service is patchy when it comes to land lines and cell phones and there are some entire buildings, citigroup has a building at 111 wall, 1,800 employees there, they can't get into that building for weeks. >> look at this. this is context in which we're operating. this is cover of "the washington post." this is new york's katrina. obviously the death toll compared to that storm nowhere near approaching it but still 20 some odd people dead in new york a
tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning...
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Oct 29, 2012
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i'm maria bartiromo coming to you live from rockefeller city in new york city where the markets are at a standstill today and tomorrow as millions brace fort brunt of hurricane sandy. >> i'm bill griffeth at cnbc global headquarters. this is usually the last hour of trading but this is the beginning of the worst of sandy. the situation getting more dangerous. that's a live picture out of midtown manhattan. a damaged crane atop a building located on west 57th street in midtown manhattan. all of that as a result of the heavy, heavy winds that are been hitting that area of new york city. we will keep you updated on that particular story. in fact, we have whole team coverage from every angle of this story. todd gross is here with us at battery park city, we have mary thompson from the port of baltimore, brian shactman is on long island. kayla tauche in cape may, new jersey, and we will be navigating the carnage for the next two hours. it is expected to pick up in severity in that time frame. let's start with the big picture from todd gross. todd, where is hurricane sandy although this mome
i'm maria bartiromo coming to you live from rockefeller city in new york city where the markets are at a standstill today and tomorrow as millions brace fort brunt of hurricane sandy. >> i'm bill griffeth at cnbc global headquarters. this is usually the last hour of trading but this is the beginning of the worst of sandy. the situation getting more dangerous. that's a live picture out of midtown manhattan. a damaged crane atop a building located on west 57th street in midtown manhattan....
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Oct 17, 2012
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that same dai citi n director michael o'neill chairman. o'neill is a much more hands-on chairman, a trait tra fueled the tension between him and pandit. in july, another misstep. citi overvalued the joint venture it has with morgan stanley. last friday, a person who saw pandit in tokyo said he didn't speak like a man about to lose his job. all of this combing to the fore on monday. that's when citi reported very strong third-quarter earnings. pandit gives no hint on an analyst call he's about to resign. sources say the bank's recent m missteps and differences between pandit and o'neill led to his resignation late monday. one top citi official telling cnbc there had been conversations about pandit and the board about his leaving for multiple weeks. the board having already identified a successor. so after pandit resigns, some of the members of the operating committee were told about the resignation monday evening. others on a call on tuesday morning. that's when long-time pandit lieutenant john havens he signed as well. the public announcem
that same dai citi n director michael o'neill chairman. o'neill is a much more hands-on chairman, a trait tra fueled the tension between him and pandit. in july, another misstep. citi overvalued the joint venture it has with morgan stanley. last friday, a person who saw pandit in tokyo said he didn't speak like a man about to lose his job. all of this combing to the fore on monday. that's when citi reported very strong third-quarter earnings. pandit gives no hint on an analyst call he's about...
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Oct 31, 2012
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nightcap tal is in jersey city. it was significant flooding and power outages in jersey city in the last 24 hours. they have backup generators that failed in the middle of the day. they have since restored power at night capital. >> thanks so much, bob. >> we show you the broad street subway station, close to the new york stock exchange. aulg the water there, hopefully with time, things will get ironed out and less water and interruptions when it comes to mass transit. the power generator system will be worked out. will we have almost normal trading? what's that going to be like on a jobs friday, the last jobs report before the election. >> i think it's a huge den as you inferred. i don't know if everything is going to be great come friday. i would hope that it is. but the truth is we saw what we can do today, we can pull together and trade today. today was the major test. we passed it. i think friday will be okay. >> let's check on michael le branch. he's a former chairman and ceo of the largest firm at the new yor
nightcap tal is in jersey city. it was significant flooding and power outages in jersey city in the last 24 hours. they have backup generators that failed in the middle of the day. they have since restored power at night capital. >> thanks so much, bob. >> we show you the broad street subway station, close to the new york stock exchange. aulg the water there, hopefully with time, things will get ironed out and less water and interruptions when it comes to mass transit. the power...
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Oct 31, 2012
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president obama will tour damage in atlantic city today. new york's subway system is flooded and will remain shut indefinitely. new jersey transit is also suspended. amtrak will resume limited regional service, but not to manhattan because of flooded tunnels. jfk and newark airports will reopen with limited service. airlines will resume service at other eastern airports. a.i.r. worldwide is putting the estimated insured losses at $7 billion to $15 billion. the u.s. financial markets, as we mentioned, will reopen today. the u.s. stock exchange says they didn't suffer any damage. goldman sachs will open its headquarters in lower manhattan, though it is still running on generator power. b of a will keep their offices closed, and citigroup says its office in lower manhattan sustained extensive flooding. joining us for a firsthand look at the damage from new york is scott cohn. i know it's still dark around you, but what kind of damage are we seeing? >> well, kelly, a lot of what you just outlined s the reason that this is -- that this city is b
president obama will tour damage in atlantic city today. new york's subway system is flooded and will remain shut indefinitely. new jersey transit is also suspended. amtrak will resume limited regional service, but not to manhattan because of flooded tunnels. jfk and newark airports will reopen with limited service. airlines will resume service at other eastern airports. a.i.r. worldwide is putting the estimated insured losses at $7 billion to $15 billion. the u.s. financial markets, as we...
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Oct 31, 2012
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before making his way up here to atlantic city. of course this meeting is very important, because governor chris christie has said over and over again that fema will play a huge part in the recovery following the wreckage here in new jersey after landfall on monday. you can see the shrapnel from the northernmost end of that iconic boardwalk. many houses also damaged. even some of the residents that have chosen to stay are starting to get power back and starting to assess the damage and start the rebuilding effort. many residents were using the power to get pumps and start pumping water out of their flooded homes. meanwhile, parks of the boardwalk remained. bull dozers and national guard we are coming in to assess that damage and clean that up as well. as far as the damage other places in new jersey. world throughout the mormg of several fires. fires are breaking out all morning, said to be due to natural gas. other towns remain extremely damaged and reeling from the disaster. of course wile have more as soon as that summit takes pl
before making his way up here to atlantic city. of course this meeting is very important, because governor chris christie has said over and over again that fema will play a huge part in the recovery following the wreckage here in new jersey after landfall on monday. you can see the shrapnel from the northernmost end of that iconic boardwalk. many houses also damaged. even some of the residents that have chosen to stay are starting to get power back and starting to assess the damage and start...
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Oct 30, 2012
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so the city is back up in terms of getting exchanges going. in terms of the infrastructure of this city, that is still a long climb. bill and maria. >> all right. scott cohn, thank you very much. obviously, sandy has left millions across the northeast without power, crippling businesses and families. courtney reagan has the latest details. >> that's right. the biggest devastation is the 30 lives lost as a result of sandy. sadly, that number could couldn't to grow. mayor bloomberg not giving a time for restoration at th this point due to considerable flooding. early inspections reveal the storms devastated the new jersey's transit. however, washington, d.c.'s mass transit system is restoring bus and rail service at this time. boston service has resumed. damage could top $20 billion in economic losses with insured losses ranging between $5 billion and $10 billion. again, that's just an early estimate. laguardia and new york airports will be closed wednesday, though governor cuomo says jfk may open tomorrow. boston and d.c. airports are open. the
so the city is back up in terms of getting exchanges going. in terms of the infrastructure of this city, that is still a long climb. bill and maria. >> all right. scott cohn, thank you very much. obviously, sandy has left millions across the northeast without power, crippling businesses and families. courtney reagan has the latest details. >> that's right. the biggest devastation is the 30 lives lost as a result of sandy. sadly, that number could couldn't to grow. mayor bloomberg...
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Oct 3, 2012
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i'm on a tour, i'm in my 11th city and we're on a tour and i'm going to be doing a debate listening party at arizona state university tonight. this will be the 11th university i've been to, i've had 11 lunches with business owners. let me tell you what the people understand that i believe governor romney is going to drive home. spending is destroying this nation and i think if he stays on that message, he's going to do just fine. >> but, herman, doesn't he shav to say something about it? i have jim boykin here, smart guy, he's already challenging holtz-eakin on that. how much? where? defense? nondefense? safety net? where's it going to come from? >> i can't tell you where it's going to come from but i do believe it's going to be specific. i do know that the american people, regardless of the specifics on spending, i agree with the earlier comment that he's got to be specific on how he's going to create jobs. but relative to spending, the people sitting at their kitchen table, talking kitchen table economics know we cannot continue the spending, the run away spending like we've done in the
i'm on a tour, i'm in my 11th city and we're on a tour and i'm going to be doing a debate listening party at arizona state university tonight. this will be the 11th university i've been to, i've had 11 lunches with business owners. let me tell you what the people understand that i believe governor romney is going to drive home. spending is destroying this nation and i think if he stays on that message, he's going to do just fine. >> but, herman, doesn't he shav to say something about it?...
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Oct 1, 2012
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we're live at the value investing con dwres in the heart of new york city where the biggest and best known managers are presenting their top investment ideas. we'll be speaking live with the house and that's moments after he reveals thinks tom picks and the fed chairman is speaking today before the economic club of indiana and you will see the question and answer session live later on in the hour. first, let's turn our focus on the market and stocks higher to start the fourth quarter and after a better than expected manufacturing report where does the rally go from here? we're getting your fourth quarter play back from pete and steve here with me and stephanie link and steve grasso and i will start with you. given what happened last week in the market, did you guys come in today a little skeptical about this move in the market and then we got the ism report and that changed your way of thinking? >> i think you always come in skeptical because you wonder how much is window dressing and how much is the market itself creating and when you look at it, i think there are great opportunitie
we're live at the value investing con dwres in the heart of new york city where the biggest and best known managers are presenting their top investment ideas. we'll be speaking live with the house and that's moments after he reveals thinks tom picks and the fed chairman is speaking today before the economic club of indiana and you will see the question and answer session live later on in the hour. first, let's turn our focus on the market and stocks higher to start the fourth quarter and after...
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Oct 3, 2012
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we are live at the nasdaq market site in new york city. "wall street journal" reporting the apple makers are making components for a small ipad. some are worried that it could be a mistake for some saying it could squeeze margins. should we be concerned? >> no. should not be. i respect henry's work but you should not be because this is why wal-mart took out those kindle devices and so forth out of their stores. they took it out because people buy things through these ipads and so forth. that is a retail sales tool and that is why apple wants to get these things into people's hands. they need to move down to the seven inch version which kindle and everybody has. i think that is a game changer for apple. >> let's get more on this and the impact on tablet competitors like amazon and google. let's bring in senior editor. good to see you. should we be concerned if you buy an ipad mini you will not buy a regular ipad or not a touch. >> the touch hasn't gone on sale yet. it has things the iphone 5 brings to the table and then the idea is the ipad
we are live at the nasdaq market site in new york city. "wall street journal" reporting the apple makers are making components for a small ipad. some are worried that it could be a mistake for some saying it could squeeze margins. should we be concerned? >> no. should not be. i respect henry's work but you should not be because this is why wal-mart took out those kindle devices and so forth out of their stores. they took it out because people buy things through these ipads and...
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Oct 31, 2012
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one northwest of the city and one due east of the city. we will have a head start in canada as we roll out our canadian strategy. >> are there enough people in canada to make a difference? i said how many could you really open there? >> well, we have identified with our partner rio-can development trust, about ten sites which we think we can roll out over the next five to seven years. we have purchased three. we have expansion capacity in each of those three. so we're well along executing the project. >> the dividend increases consistent, 5% most recently. if you get up to, say, 99.9 and then you stay there, how do you raise it each year? you have a 21% increase in the rollovers, right? >> well, our rents continue to be driven -- we were actually -- our rent spreads were 25% year to date. but that's a reflection of our tenant sales, which are way up. the tenants can afford to pay a little bit more. it's a very profitable distribution channel for our tenant partners. our ability to raise dividends, which we have every year since we've been
one northwest of the city and one due east of the city. we will have a head start in canada as we roll out our canadian strategy. >> are there enough people in canada to make a difference? i said how many could you really open there? >> well, we have identified with our partner rio-can development trust, about ten sites which we think we can roll out over the next five to seven years. we have purchased three. we have expansion capacity in each of those three. so we're well along...
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Oct 12, 2012
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they see president obama and new york city the same day netanyahu is, instead of meeting him goes on a daily talk show. they see when we say that these options aren on the table, the secretary of defense walk them back. they are not changing their mind. that's what we have to do is change their mind so they stop pursuing nuclear weapons. >> how do you do it so quickly? look you both saw benjamin netanyahu hold up that picture of a bomb with a red line and talking about the red line being in spring. so, can you solve this? if the romney/ryan ticket is elected, can you solve this in two months before spring and avoid nuclear -- >> we can debate the timeline, whether there's -- it's that short of time or longer. i agree that it's probably longer. number two, it's all about -- >> you don't agree with that bomb and what the israelis want to do -- >> i don't want to go into classified stuff but we both agree that to do this peacefully you have to get them to change their minds. they're not changing their minds and look at what this administration does. >> let me tell you what the ayatollah
they see president obama and new york city the same day netanyahu is, instead of meeting him goes on a daily talk show. they see when we say that these options aren on the table, the secretary of defense walk them back. they are not changing their mind. that's what we have to do is change their mind so they stop pursuing nuclear weapons. >> how do you do it so quickly? look you both saw benjamin netanyahu hold up that picture of a bomb with a red line and talking about the red line being...
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Oct 26, 2012
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guys, should citi have told shareholders that's how the land lay? >> well, first, it is perfectly fair if mr. o'neill decides he wants somebody else to convince the board to do it. what i have a problem with here is mr. pandit came out and said this was my own decision. simon and i were talking about this the day it came out. it was nonsensical. now we find out. i agree with harvey pitt. he said given a choice between lying or simply not saying anything, i think mr. pandit should simply say nothing about this. >> i don't know if there's a way to make this a great story from their perspective. but, hey, i don't think that's the way anybody would want to go. it doesn't look good, as bob just said from pandit's perspective. but i think there are a lot of questions about whether they could have communicated better about what was really behind this. like the truth. >> guys, let's finish up with apple. it was supposed to be the big one in corporate earnings this week, reporting of course ultimately weaker than expected ipad sales. the white ipad minis are
guys, should citi have told shareholders that's how the land lay? >> well, first, it is perfectly fair if mr. o'neill decides he wants somebody else to convince the board to do it. what i have a problem with here is mr. pandit came out and said this was my own decision. simon and i were talking about this the day it came out. it was nonsensical. now we find out. i agree with harvey pitt. he said given a choice between lying or simply not saying anything, i think mr. pandit should simply...
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Oct 30, 2012
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this is in from we believe the atlantic city, new jersey, region. it was video taken from a helicopter and if you look at that flooding, it shows you just how widespread the flooding is in that part of the garden state which, of course, was one of the hardest hit states and especially, ty, as you were mentioning yesterday and we were talking about, that south central part and the storm surge was unbelievable. in some cases, up to 14 feet. as you can see there are some buildings that are partially submerged at this point. and that looks like parked next a harbor, we are just seeing this now, as you guys are certainly at home. look at the boats piled up. >> that maybe the marina right around where the borgata is on the marina, a couple of the other casinos are there and look at that. is that a dock or is that -- they have about pushed up onto dry land there? >> i think they have been pushed up, they are piled on top. a road, we are hearing. that will give you an idea of not amount extent of the damage but how long it is going to take for that water to
this is in from we believe the atlantic city, new jersey, region. it was video taken from a helicopter and if you look at that flooding, it shows you just how widespread the flooding is in that part of the garden state which, of course, was one of the hardest hit states and especially, ty, as you were mentioning yesterday and we were talking about, that south central part and the storm surge was unbelievable. in some cases, up to 14 feet. as you can see there are some buildings that are...
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Oct 31, 2012
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they are running buses in new york city. it will be almost like normal and buses will be free because of all the disruptions with the other transportation systems. >> i'd like to see a satellite shot at night of new jersey. even driving up to the studio this morning, it's dark. no traffic lights, no nothing. there's a couple of things that are open around the area out there, but they must have generators. very little on the shelves. a lot of people, a lot of people. the eye of hurricane sandy hit the jersey shore hard, wiping out boardwalks, businesses as well as homes. millions still without power. president obama is going to survey the damage today with governor christie, and coming in this morning, i heard -- i was listening to the radio and i heard a bunch of sounds from christie. >> he had gone to the shore yesterday. >> giving people hugs. the boardwalk is gone in a lot of places. we showed some amusement rides. kayla has spent two days in cape may. she's moved north to atlantic city where the damage is also extensive.
they are running buses in new york city. it will be almost like normal and buses will be free because of all the disruptions with the other transportation systems. >> i'd like to see a satellite shot at night of new jersey. even driving up to the studio this morning, it's dark. no traffic lights, no nothing. there's a couple of things that are open around the area out there, but they must have generators. very little on the shelves. a lot of people, a lot of people. the eye of hurricane...
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Oct 29, 2012
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mass transit remains closed in new york city. maryland transit computer service and bus operations remain close. boston mass transit is also closed now as of about 15 minutes ago. >>> wall street is a virtual gho ghost town today as sandy makes its presence known. here's what the nyse ceo had to say about closing the stock exchange earlier this morning and even shutting down electronic trading. >> in terms of it, we have no doubt it can handle the volume. think in most emergency situations until you test it in production you're not going to know. that was going to be the first production task to see. our guess is it would have gone fine. who knows. but you also would not have been likely to see theum and volatility. i think a lot of people simply weren't going to participate today if we had tried to open it. >> is his point valid? we should note that since the interview, the nyse announced plans to close again tomorrow and the hope of reopening on wednesday. let us welcome in the ceo of better markets. he joins us now on the cnbc
mass transit remains closed in new york city. maryland transit computer service and bus operations remain close. boston mass transit is also closed now as of about 15 minutes ago. >>> wall street is a virtual gho ghost town today as sandy makes its presence known. here's what the nyse ceo had to say about closing the stock exchange earlier this morning and even shutting down electronic trading. >> in terms of it, we have no doubt it can handle the volume. think in most emergency...
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Oct 31, 2012
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how in the world can they run the new york city marathon this sunday with so much of the city still shut down and so many people suffering? will there be a race before there's power? we're about to ask one of the city's top elected leaders where he stands -- next. es with 8 air, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use, it's the ultimate combination of speed, small size, and low-cost printing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-
how in the world can they run the new york city marathon this sunday with so much of the city still shut down and so many people suffering? will there be a race before there's power? we're about to ask one of the city's top elected leaders where he stands -- next. es with 8 air, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. or that printing in color had to cost a fortune. nobody said an all-in-one...
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Oct 25, 2012
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i remember when sharp was running circuit city. when i shop at best buy now, it is absolutely true, you call them, you deal with them and you just say wow, i would rather have amazon deliver the product to my house. >> there's also linens and things, bed, bath and beyond is now the best retailer. how does bby in everything that's kmod advertised. i wonder if there's room for any kind of return. >> bed bath, the stock was down hideously. it's taking out the millennium day. i have a bed bath that's very close to me. it's the first one, they're a jersey company, and i keep trying to price what amazon has, this is an impulse place, it does a lot of couponing. jc penny moves away from coup couponing. i do think that best buy in the end makes easily checkable products. what is that samsung? what number did you have on that tv? and then i go to amazon, i go to best buy. i price compare. i had the misfortune of trying to buy 60 inch best buy tv. i not that long ago, i wanted to do it on the phone. the card says jim cramer. why would i try
i remember when sharp was running circuit city. when i shop at best buy now, it is absolutely true, you call them, you deal with them and you just say wow, i would rather have amazon deliver the product to my house. >> there's also linens and things, bed, bath and beyond is now the best retailer. how does bby in everything that's kmod advertised. i wonder if there's room for any kind of return. >> bed bath, the stock was down hideously. it's taking out the millennium day. i have a...
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Oct 30, 2012
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new york city is dealing with a historic outage. con-ed says it will restore power within brooklyn and manhattan in two days. superstorm sandy it dumping snow on the west virginia region. we have a few updates on o openings to report. the federal agencies in washington, d.c. are now open. employees are still being allowed to telecommute. as we've been reporting, the nyse and nasdaq listen open for trading tomorrow. we're just getting word from the imex that it will reopen tomorrow as well provided the city lifts e orders for zone "a." mayor bloomberg not giving a timeline for restoration due to considerable flooding and damage. early inspections reveal that the storm, quote, devastated the new jersey transit's operation and infrastructure. however, washington, d.c.'s mass transit system is restoring. boston's service has already been resumed. maria. >> what an unbelievable impact. thank you. parts of atlantic city, new jersey jersey, are still under water that the hour. kayla is here with that angle. over to you. >> well, maria, all
new york city is dealing with a historic outage. con-ed says it will restore power within brooklyn and manhattan in two days. superstorm sandy it dumping snow on the west virginia region. we have a few updates on o openings to report. the federal agencies in washington, d.c. are now open. employees are still being allowed to telecommute. as we've been reporting, the nyse and nasdaq listen open for trading tomorrow. we're just getting word from the imex that it will reopen tomorrow as well...
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Oct 30, 2012
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people that work in the casinos and communities of atlantic city. our thoughts with them. >> our thoughts with them as we hope they get a break for the cleanup. our fingers crossed. that will do it for "power lunch" for this day. >> street signs begins right now. >> the storm has pass $but the cleanup and economic hit has just begun. welcome, everyone, the storm has passed but still as many questions as there are answers. for example, what's expected from stocks when trading resumes tomorrow? bob pisani with the latest on the exchanges. when a lot more than 8 million people without power have their electricity restored? and have the waters receded along the shore? could sandy turn out to be a $100 billion storm? women ask an insurance ceo about the damage and whether your premium plus go up. the former ceo of american air lines how the airports will handle the storm and how much this may impact the airlines themselves. but first, let's get the very latest on what we know right now. mandy? >> hi there, brian. let's take a look at what's going on. a 1
people that work in the casinos and communities of atlantic city. our thoughts with them. >> our thoughts with them as we hope they get a break for the cleanup. our fingers crossed. that will do it for "power lunch" for this day. >> street signs begins right now. >> the storm has pass $but the cleanup and economic hit has just begun. welcome, everyone, the storm has passed but still as many questions as there are answers. for example, what's expected from stocks when...
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Oct 4, 2012
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>> well, we are back with our special coverage today from the black rock trading floor in new york city. we've laid out the numbers. the firm manages more money than the federal reserve, more than $3.5 trillion. the question is, how are they putting their money to work in today's environment? and how are clients allocating capital today? joining me now in a cnbc exclusive are two people at the forefront of those decisions. quinton price and robert kapito, the president of black rock. gentlemen, good to have you on the program. thank you so much for joining us. let me start with quinton, since i don't think you've been with us before. nice to have you on the program. you are the global head of the alpha strategies group. really, a global opportunity for allocating capital. to what do you attribute the rally today? was it the ecb, do you think? was it the election last night? what's going on? the debate, rather. >> europe has been driving the market for months. ever since draghi made his comments, going back two months, we've seen confidence flowing back into equities. we've removed the d
>> well, we are back with our special coverage today from the black rock trading floor in new york city. we've laid out the numbers. the firm manages more money than the federal reserve, more than $3.5 trillion. the question is, how are they putting their money to work in today's environment? and how are clients allocating capital today? joining me now in a cnbc exclusive are two people at the forefront of those decisions. quinton price and robert kapito, the president of black rock....
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Oct 4, 2012
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. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney will get stronger. >> karen? >> i agree with what he is saying. there is the perception of economic growth and if that is the case and less regulation, i think you are see the industrials get better. >> i think if we can get back to 2007 and 8: 20 2007 and 2008 levels, it will be better. >> how often do you get a candidate that calls out a sector like that? >> it is not just the president and regulations that have hurt coal stocks? >> that has hurt it as much as the president holding things back. but obviously romney calling this out is why stocks were up 6 to 7%. t
. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney...
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. >> yeah, morgan stanley and citi are chosen as part of the portfolio. pick some names from the energy space? >> well, in the energy space it's all about the refiners, that's where most folks have been positioned. pete has been on that story, as well. a little bit of a reallocation, you look at exxon mobil which has proven oil reserves and has a touch of natural gas. i think under a romney administration, a big large cap oil name like exxon mobil will do well. however, i'm not entirely in love with energy here. and understand the congress that romney would be working with is not the congress that we had under president bush, which is a very pro-oil type of congress, right? >> stephanie link, take a position on hospital stock. one of the sectors that seems most obvious to gain under president obama affordable care act, more people heading into hospitals, getting care and the hospitals being reimbursed for that coverage where they otherwise might not be, those are the stocks pulling back right now as mr. romney seems to be gaining a bit in the polls. >> ye
. >> yeah, morgan stanley and citi are chosen as part of the portfolio. pick some names from the energy space? >> well, in the energy space it's all about the refiners, that's where most folks have been positioned. pete has been on that story, as well. a little bit of a reallocation, you look at exxon mobil which has proven oil reserves and has a touch of natural gas. i think under a romney administration, a big large cap oil name like exxon mobil will do well. however, i'm not...
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before we let you go we want to get your take on what happened today at citi. the shakeup. craig, you're a form ceo. what do you make of it? >> well, any time the ceo has a shoot-out with a board and loses, be there's, you know, my indication is there's some deep internal problems. not totally public. >> finally sheila, it's been reported at least on our air that some of your long-time criticism of pandis were used against him by his own political enemies in the power struggle. what do you make of that? do you feel responsible in some small way? >> i don't feel responsible. look you had an underperforming stock for several years, over five years, down 90%, shareholders unhappy they had lost confidence. those are the kind of situations where the board needs to act. and i do think -- i wish vikram well but i never thought he had the qualifications, never had commercial banking experience, never run a large institution. it was a struggle for the past five years, and i think the board made the right decision. i don't think it was anything to do with me or my book. my concerns a
before we let you go we want to get your take on what happened today at citi. the shakeup. craig, you're a form ceo. what do you make of it? >> well, any time the ceo has a shoot-out with a board and loses, be there's, you know, my indication is there's some deep internal problems. not totally public. >> finally sheila, it's been reported at least on our air that some of your long-time criticism of pandis were used against him by his own political enemies in the power struggle. what...
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and that has city officials concerned. here's new york city mayor mike bloomberg. >> if you are still in zone "a" and can find a way to leave, leave immediately. conditions are deteriorating very rapidly and the window for you getting out safely is closing. >> reporter: it's been interesting to watch. some preparations actually still going on this morning, which means they really weren't thinking that clearly about all of this. because some of the conditions were already supposed to have deter rated by now. but a lot of the sandbagging we've seen has been going on today. that, as the mayor said, the window for all of that, for all of those preparations is closing fast. we expect this is going to be a rough afternoon heading into a rough evening, continuing through tomorrow. scott? >> scott, thanks so much from lower manhattan. the mayor already announcing skoo schools will be closed in new york city yet again tomorrow. at the top of the show we mentioned the new york stock exchange and nasdaq are closed for business today.
and that has city officials concerned. here's new york city mayor mike bloomberg. >> if you are still in zone "a" and can find a way to leave, leave immediately. conditions are deteriorating very rapidly and the window for you getting out safely is closing. >> reporter: it's been interesting to watch. some preparations actually still going on this morning, which means they really weren't thinking that clearly about all of this. because some of the conditions were already...
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Oct 26, 2012
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. >>> and crumbling city? what really happened in the between the bank ceo and chairman that led to pandit's departu departure, the surprising story is still ahead on "closing bell." >>> welcome back, 45 minutes left in today's trading session. the market is higher, dow industrials trying to avoid a third down day. we've got a pretty good move on the upside of 38 points and industrial average, disappoint of earnings putting drag on sent. this morning as it has for much of the week. technology stocks among the gainers, off of earlier lows when the tech index went into correction territory. financial under pressure with the market up broadly speaking. >> 45 minutes left. our next guest told officials fz treasury and fed to stop using libor, the interest rate in order to protect the taxpayers who fund the t.a.r.p. program and using it as a bis sasis to charge interest on loans. >> t.a.r.p. started in 2008, the government still owns a piece of nearly 300 banks. the government has been paying back taxpayers by sell
. >>> and crumbling city? what really happened in the between the bank ceo and chairman that led to pandit's departu departure, the surprising story is still ahead on "closing bell." >>> welcome back, 45 minutes left in today's trading session. the market is higher, dow industrials trying to avoid a third down day. we've got a pretty good move on the upside of 38 points and industrial average, disappoint of earnings putting drag on sent. this morning as it has for...
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a city councilman said the building cost the city $1 billion a year in the tax loss and calls this project outrageous. >> you're going to get so many people -- you're going to crash the site. >> i hope so. >> robert, thank you very much. appreciate it. >>> coming up in the next hour -- street signs has top apple analyst gene munster from pipalafterry. he looks at what an ipad mini could mean for the stock and the one thing that he thinks could keep apple going for years to come. ♪ [ man ] when i'm in my zone... every move i make is a statement... ♪ ...that inspires me to make my mark. ♪ [ male announcer ] the all-new lexus es 350. ♪ [ male announcer ] the all-new lexus es 350. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> checking the markets for you -- we are just a fraction off
a city councilman said the building cost the city $1 billion a year in the tax loss and calls this project outrageous. >> you're going to get so many people -- you're going to crash the site. >> i hope so. >> robert, thank you very much. appreciate it. >>> coming up in the next hour -- street signs has top apple analyst gene munster from pipalafterry. he looks at what an ipad mini could mean for the stock and the one thing that he thinks could keep apple going for...
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Oct 4, 2012
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so much for the city of brotherly love. a philadelphia high school teacher allegedly verbally abused a 16-year-old student just for wearing a mitt romney t-shirt! the girl and her dad are up next. want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 th
so much for the city of brotherly love. a philadelphia high school teacher allegedly verbally abused a 16-year-old student just for wearing a mitt romney t-shirt! the girl and her dad are up next. want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they...